ZTE Coughs Up $3 Billion for Network Gear from U.S. Corps.
ZTE today announced that it has signed purchase agreements totaling more than $3 billion for semiconductors and other networking technology from U.S. vendors. ZTE will use semiconductor parts from Qualcomm, Freescale Semiconductor, Texas Instruments, Altera and Broadcom over the next three years. ZTE says the purchases are meant to increase its ties with U.S. companies, as well as to help reduce the time it takes to get products to market. ZTE has made small strides towards increasing its presence in the U.S. market, including recent distribution agreements with Verizon Wireless and MetroPCS, which are selling the ZTE Salute and the ZTE Agent, respectively.